Bar Bulletin

Bar Bulletin

Thinking Outside the Board Room Box: the Need for Independent Directors

September 2021 Bar Bulletin

By Al Davis

Most small and mid-sized businesses already have a board of directors. In fact, if they are organized as a corporation, they are required to have a board. But many boards are made up of family members in a family-owned business or friends and sometimes investors in a mid-sized company. But is this really the best we can do?

A notable trend in business over the past few years has been pressure on public companies to upgrade their governance practices by having a majority of independent directors. Many private companies should be doing the same. There are a number of...

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